The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Information And Communication Equipment In Specialised Stores 47.41 - Retail sale of computers, peripheral units and software in specialised stores
2,104 jobs Number of planned job losses
Announcement Date
26 March 2012
Employment effect (start)
26 March 2012
Foreseen end date
Description
On 26 March 2012 the video game retailer Game Group announced that it had gone into administration, wtih the loss of 2,104 jobs in the UK and Ireland, as a result of the closure of 277 stores. The remaining 333 stores will stay open until a buyer can be found. The company has suffered from high fixed costs and an ambitious international expansion. Its business has also been hit by competition from online-only retailers.
Game Group employs 385 staff at its headquarters in Basingstoke in Hampshire, UK, and about 5,100 in its stores in the UK and Ireland. About another 5,000 staff are employed at Game's other stores, which are located in France, Spain, Portugal, the Czech Republic, Scandinavia and Australia.
Sources
26 March 2012: BBC News
26 March 2012: Game Group
Citation
Eurofound (2012), Game, Bankruptcy in European Union, factsheet number 73378, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73378.
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